Wells Fargo & Company MN lessened its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 7.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 139,355 shares of the company’s stock after selling 10,982 shares during the quarter. Wells Fargo & Company MN’s holdings in Calavo Growers were worth $13,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Calavo Growers by 4.4% in the first quarter. Principal Financial Group Inc. now owns 123,297 shares of the company’s stock valued at $11,368,000 after purchasing an additional 5,223 shares in the last quarter. Acadian Asset Management LLC grew its position in Calavo Growers by 685.6% in the second quarter. Acadian Asset Management LLC now owns 5,931 shares of the company’s stock valued at $570,000 after purchasing an additional 5,176 shares in the last quarter. TD Asset Management Inc. bought a new position in Calavo Growers in the second quarter valued at $2,365,000. Commonwealth Equity Services LLC grew its position in Calavo Growers by 25.6% in the second quarter. Commonwealth Equity Services LLC now owns 3,408 shares of the company’s stock valued at $328,000 after purchasing an additional 694 shares in the last quarter. Finally, Comerica Bank grew its position in Calavo Growers by 7.0% in the second quarter. Comerica Bank now owns 20,731 shares of the company’s stock valued at $1,985,000 after purchasing an additional 1,363 shares in the last quarter. Institutional investors and hedge funds own 88.99% of the company’s stock.

Shares of CVGW stock opened at $92.26 on Friday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 34.00 and a beta of 0.47. Calavo Growers, Inc. has a one year low of $70.00 and a one year high of $108.00.

The company also recently declared an annual dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 16th were paid a $1.00 dividend. The ex-dividend date was Thursday, November 15th. This represents a yield of 1%. This is a boost from Calavo Growers’s previous annual dividend of $0.95. Calavo Growers’s dividend payout ratio (DPR) is currently 46.95%.

A number of research firms recently weighed in on CVGW. Zacks Investment Research raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. BidaskClub upgraded shares of Calavo Growers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Buckingham Research cut shares of Calavo Growers from a “buy” rating to a “neutral” rating and set a $98.00 price target for the company. in a research note on Tuesday, September 4th. They noted that the move was a valuation call. Finally, Lake Street Capital set a $109.00 price target on shares of Calavo Growers and gave the company a “buy” rating in a research note on Friday, September 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $101.50.

In other news, Director Marc Laurence Brown sold 343 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $95.74, for a total transaction of $32,838.82. Following the completion of the sale, the director now owns 11,343 shares in the company, valued at approximately $1,085,978.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Lecil E. Cole sold 100,296 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $103.68, for a total transaction of $10,398,689.28. Following the sale, the chairman now owns 571,071 shares of the company’s stock, valued at approximately $59,208,641.28. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.

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About Calavo Growers

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.

Further Reading: Yield Curve

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Institutional Ownership by Quarter for Calavo Growers (NASDAQ:CVGW)

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